The given events took place at the manufacturing company for current year:
i) Purchased $95,000 in direct materials.
ii) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600
iii) Other manufacturing overhead was $107,000, excluding indirect labor.
iv) Transferred 80% of the materials to the manufacturing assembly line.
v) Completed 65% of the Work-in-Process during the year.
vi) Sold 85% of the completed goods.
vii) There were no beginning inventories.
Determine value of ending Finished Goods Inventory?
a) $13,261.50
b) $24,628.50
c) $26,481.00
d) $164,190.00